Bitcoin Fork November. BTC and BCH

[neowne]

Hello

I have a question about the next fork, that could probably come in November 2017.
When the first fork happened, I was holding 0.5 BTC and got the same in BCH (nice fork )

So now I have 0.5 BTC and 0.5 BCH.
What happens on the next fork?
Will I get 0.5 BTC of that new third coin, or will I get 1 coin?
Basically, am I getting only new coins for the BTC I hodl or also for the BCH?
Sorry for my noob question, but I could not find any answer to this yet.
Thank you!

[paraboul]

Hello

I have a question about the next fork, that could probably come in November 2017.
When the first fork happened, I was holding 0.5 BTC and got the same in BCH (nice fork )

So now I have 0.5 BTC and 0.5 BCH.
What happens on the next fork?
Will I get 0.5 BTC of that new third coin, or will I get 1 coin?
Basically, am I getting only new coins for the BTC I hodl or also for the BCH?
Sorry for my noob question, but I could not find any answer to this yet.
Thank you!

This is simple to understand. The only duplicated coins are the ones that share the same blockchain. It's exactly like copying a file and start working on both copy at some point. You share the same history but every new change is made on only one file, not both.
So if there is a fork from BTC, you'll only have this one duplicated, since BCH as nothing to do with the new fork and doesn't share the same history since it happened.

[OmegaStarScream]

The fork is going to happen on the bitcoin network (BTC) so you will get that amount in SegWit2x and that's all (It may not happen though as some services are deciding to no longer support it: http://segwit.party/nya/)

[mocacinno]

This is simple to understand. The only duplicated coin is the one it's forked from, because it shares the same blockchain before the fork.
So if there is a fork from BTC, you'll only have this one duplicated.

this ^^ is correct,
there is a non-technical workaround tough:

* You have 0.5 BTC and 0.5 BCH.
* Exchange 0.5 BCH on an exchange and receive 0.055 BTC.
* Make sure you withdraw this 0.055 BTC to a local wallet that allows you to export your private keys BEFORE the day of the fork
* Once the fork happens, you now have 0.555 BTC + 0.555 B??
* If you really want to have BCH, deposit 0.055 BTC  to an exchange and exchange it back to BCH.
* You now have 0.5 BTC + ~0.5 BCH + ~0.555 B?? (minus exchange fees, which can be nulled by buying at a dip and selling on a peak)

[nicosey]

Does anyone actually no the actual date?

[BenOnceAgain]

Does anyone actually no the actual date?

These forks are generally not based on a date, but rather a block number where the change in specification begins to be applied.

I am reading the block number that has been coded for the fork is 494,784.  So it would then be the first divergent block (that would be accepted as valid by SegWit2x nodes but rejected by non-SegWit2x nodes) added to the blockchain on or after that block.  Block number as of the time I'm writing this post is 487,281 and there are on average 6 blocks created per hour.  So, about 52 days from now, which would be November 18-19.

One thing about this upcoming fork that people need to clearly understand is that one of the parties that is forking the code off from the Core bitcoin code is not taking steps to implement "replay protection".  Simply put, this could cause any value stored on the split chain (the side that is forked away from Core) to be able to be spent by others.  I do not believe there is a danger to the value on the Core blockchain, but if I am mistaken please correct me.

Any time a split like this happens, it's probably a good idea to move any funds you have into fresh wallets on both chains.  This must be done after the split has been completed -- doing it before will not protect your funds.

Again, if I am incorrect in anything I just stated about the consequences for stored value due to a completed fork, please correct me as I am just trying to explain things as I understand them and do not want to contribute to FUD if I am mistaken.

[MAbtc]

One thing about this upcoming fork that people need to clearly understand is that one of the parties that is forking the code off from the Core bitcoin code is not taking steps to implement "replay protection".  Simply put, this could cause any value stored on the split chain (the side that is forked away from Core) to be able to be spent by others.  I do not believe there is a danger to the value on the Core blockchain, but if I am mistaken please correct me.

Replay attacks go both ways. Let's say you only run a Core node. Your funds on the legacy chain are safe, but when you send a transaction, the funds on the forked chain may be lost. The converse is also true. If you run a Segwit2x node, your funds on the Segwit2x chain are safe, but your funds may be replay attacked on the legacy chain.

Users should take care when trying to extract Segwit2x coins (e.g. to dump them). If there is no replay protection, you might lose your BTC in the process if you aren't careful.

[kissme09]

Hello

I have a question about the next fork, that could probably come in November 2017.
When the first fork happened, I was holding 0.5 BTC and got the same in BCH (nice fork )

So now I have 0.5 BTC and 0.5 BCH.
What happens on the next fork?
Will I get 0.5 BTC of that new third coin, or will I get 1 coin?
Basically, am I getting only new coins for the BTC I hodl or also for the BCH?
Sorry for my noob question, but I could not find any answer to this yet.
Thank you!

It will not be related to bch but it's all in bitcoin so you only get 0.5 but 25th of October I recommend you look for investment to increase the bitcoin you have up to date. October 24th you transfer the whole bitcoin there about wallet is ok

[BenOnceAgain]

Replay attacks go both ways. Let's say you only run a Core node. Your funds on the legacy chain are safe, but when you send a transaction, the funds on the forked chain may be lost. The converse is also true. If you run a Segwit2x node, your funds on the Segwit2x chain are safe, but your funds may be replay attacked on the legacy chain.

Users should take care when trying to extract Segwit2x coins (e.g. to dump them). If there is no replay protection, you might lose your BTC in the process if you aren't careful.

If the fork occurs, what is the safest way to extract these coins for dumping?  Similar to the BCH situation, or how would one go about it, considering the lack of replay protection?  If one were to leave the S2X coins alone on the forked chain, would there still be a danger?  I'm going to see if I can find a good explanation of transaction replay because I want to make sure I am understanding the issue correctly.

[Bezdonov Art]

There could be as many as four cryptocurrencies bearing the bitcoin name if a small group of miners and developers carry out a planned fork of the blockchain.

[mensa84]

Hello

I have a question about the next fork, that could probably come in November 2017.
When the first fork happened, I was holding 0.5 BTC and got the same in BCH (nice fork )

So now I have 0.5 BTC and 0.5 BCH.
What happens on the next fork?
Will I get 0.5 BTC of that new third coin, or will I get 1 coin?
Basically, am I getting only new coins for the BTC I hodl or also for the BCH?
Sorry for my noob question, but I could not find any answer to this yet.
Thank you!

You will receive only 0.5 NEWBTC. Because this will be the BTC fork, not the BCH.
BCH lives its own separate life. And it has nothing to do with BTC.

[equator]

Hello

I have a question about the next fork, that could probably come in November 2017.
When the first fork happened, I was holding 0.5 BTC and got the same in BCH (nice fork )

So now I have 0.5 BTC and 0.5 BCH.
What happens on the next fork?
Will I get 0.5 BTC of that new third coin, or will I get 1 coin?
Basically, am I getting only new coins for the BTC I hodl or also for the BCH?
Sorry for my noob question, but I could not find any answer to this yet.
Thank you!

As per my knowledge you will be receiving the free coins on basis of what btc you are holding in btc wallet and not for bcc/bch coins. So you will get only btc value of coins in 2nd fork.

[NoMar02]

The fork is going to happen on the bitcoin network (BTC) so you will get that amount in SegWit2x and that's all (It may not happen though as some services are deciding to no longer support it: http://segwit.party/nya/)

Thank you for the link
I find if this is actually going to happen, then there's a chance to get free new B-Forked coin.

[defc0de]

sad to see all these forks from BTC. Seems like BTC is turning into fiat i a sense that we would just print new bills as much as the forking group wants. It's probably the downside of a decentralized system though, there will always be factions not agreeing to a certain change in status quo. ETH/ETC, BTC/BCH and God knows what other forks are coming in the next few years.

[APLA-support]

Any idea when in November this might happen? like beginning or end? this would really help.

[AtraxPool]

I agree these forks are becoming a joke.  Because BCC did one now everyone is going to want to fork off and do their own thing.

At some point in time, there is going to be one epic attack or an epic fail of one of these forks and it could cause chaos to the crypto world and destroy everything that the community has worked towards for many years.  Now bitcoin is being adopted in the mainstream its in the media constantly do we really want to risk it all now because developers have split and decided to do different things?

I also think these things need to be made more public. It's not user-friendly having people hunting forums to find out whats going on with this there should be a website that documents and has the up-to-date picture of where we are with things like forks.. countdown to blocks ect ect.  Its not good for new users who are joining bitcoin after the price hike to see that in fact there's a bunch of fighting and counterproductive thinking going on.

I will revert to this when it happens...

Don't fix what ain't broke!

[aywin]

Any idea when in November this might happen? like beginning or end? this would really help.

Probably 18 or 19 November.

[w5pn73]

I agree these forks are becoming a joke.  Because BCC did one now everyone is going to want to fork off and do their own thing.

I also think these things need to be made more public. It's not user-friendly having people hunting forums to find out whats going on with this there should be a website that documents and has the up-to-date picture of where we are with things like forks.. countdown to blocks ect ect.  Its not good for new users who are joining bitcoin after the price hike to see that in fact there's a bunch of fighting and counterproductive thinking going on.

Yeah when you put it like this it's actually quite amazing btc is drifting between 4-5k.

[stevekins]

Forks are methods to delay the mooning of $btc, as the panic will help crash price

[AtraxPool]

I agree these forks are becoming a joke.  Because BCC did one now everyone is going to want to fork off and do their own thing.

I also think these things need to be made more public. It's not user-friendly having people hunting forums to find out whats going on with this there should be a website that documents and has the up-to-date picture of where we are with things like forks.. countdown to blocks ect ect.  Its not good for new users who are joining bitcoin after the price hike to see that in fact there's a bunch of fighting and counterproductive thinking going on.

Yeah when you put it like this it's actually quite amazing btc is drifting between 4-5k.

I am amazed that we did not see a crash in the price, something tells me with all the difficulty manipulation carry-on and forks that are happening, threats posted then deleted from twitters who knows when this baby's going to crash but ill tell you one thing for free.. It's not going to be pretty!

And the carnage will be worse than a juggernaut hitting a wall at 90!